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7 Dec
The Nigeria Interbank Settlement System (NIBSS) has called for the disconnection of switching companies, payment solution service providers (PSSPs) and super agents (SAs) from the instant payment outwards system
6 Nov
Total inflows into the Nigerian Autonomous Foreign Exchange Market (NAFEM) declined by 6.2 per cent month-on-month (MoM) to $1.23 billion in October after it pivoted from a three-month high of $1.31 billion the preceding month.
20 Oct
Worried about the continuous fall of the Naira against the dollar, the Association of Corporate Treasurers of Nigeria (ACTN) has called on the Federal Government to implement policies that would facilitate the convergence of Nigeria's official window and parallel market rates. According to them, the reason for the floating of the Naira was for the…
13 Oct
.Dollar sustains upward swing as pressure on supply intensifies Nigeria’s currency, the Naira, is still under immense pressure as the Central Bank of Nigeria (CBN) continues to explore new mechanisms to address the forex challenge. The CBN Governor, Oluyemi Cardoso, in a policy document released in Abuja, said the apex bank is currently evaluating how…
10 Oct
The Central Bank of Nigeria (CBN) has insisted that the adoption of the eNaira is not and never a threat to financial stability in the country. The apex bank said contrary insinuations that the adoption of the eNaira portends danger to financial inclusion; it explained that the country’s Central Bank Digital Currency (CBDC), the eNaira,…
4 Oct
A Bitcoiner, Prince Akpah, has advocated the need for Africa to adopt the use of the digital currency to seal deals and finalise business transactions. According to him, it has been noted that if Bitcoin has to grow, it calls for more adoption, which is going to happen on the continent. He said that that…
3 Oct
When I started as a 9-5 baddie, I tried to save a lot, but these corporate streets are not for the weak! From looking good, coming through for friends or family, and paying bills to live up to the corporate Gen Z hype, nothing comes cheap. I haven't even factored in food or the emergency…
6 Sep 2023
The Office of the Auditor General of the Federation (OAGF) has expressed concern over the lack of financial and administrative autonomy by subnational governments to effectively carry out performance audits of government programmes and activities. According to the office, performance audit requires specialised skills, hence the need for more funds to employ skilled personnel to…
28 Aug 2023
.As dollar continues to trade above N900/$ at black market FMDQ Securities Exchange has posted a total turnover of $417.9 million in its foreign exchange (FX) spot and derivatives market segment for the week ended August 25, 2023. The figure represents a decrease of 32.61 per cent ($202.2 million) from $620.1 million reported for the…
17 Aug 2023
About 48 hours after President Bola Tinubu and Acting Governor of the Central Bank of Nigeria (CBN), Folashodun Shonubi, held a crucial meeting on the state of the foreign exchange (FX) market, there is a breather for naira as it recorded a moderate gain trading at about N880/$ at the black market yesterday. Dollar spiked…
Emem Usoro
14 Aug 2023
Before the advent of Russia-Ukraine in February 2022, UBA had put in place a robust risk management framework to adapt to any emerging risk in all its countries of operations.
MSMEs and access to finance
27 Jul 2023
With a financing access gap of over 99 per cent, Nigeria’s micro, small and medium-scale enterprises (MSMEs) are, perhaps, the least funded globally.
9 hours ago
To improve electricity supply across Africa and reduce dependency on expatriates from Europe and other continents, Nigeria is currently training several personnel in Southern and Western countries.
9 hours ago
Lagos Commodities and Futures Exchange (LCFE) has stressed the need for the Federal Government to utilise the commodities exchange ecosystem as a strategy to boost food security, create job opportunities and enhance Nigeria's capacity to earn foreign exchange.
9 hours ago
In support of the global move to achieve carbon-zero emission and to reduce the high cost of maintaining internal combustion engine vehicles, the management of MAX has donated low-emission MAX Motorcycles to the Lagos State Residents Registration Agency (LASRRA).
9 hours ago
Businesses in Nigeria will have the opportunity to leverage Google technologies for growth and competitiveness.
9 hours ago
Over five million Nigerian women entrepreneurs have so far benefited from over N500 million facility put in place by the Association of Nigerian Women Business Network (ANWEN) to boost their businesses.
9 hours ago
To mitigate the impacts of climate change, the federal government has secured $198,175 in grants from the Climate and Clean Air Coalition (CCAC) to curtail open-field burning practices among farmers.
9 hours ago
The Lagos State Government has partnered Caverton Marine to enhance local boat production, to tackle challenges in waterways transportation and reduce capital flight through boat importation by 70 per cent. This collaboration involves the local construction of 25 state-of-the-art ferries, each with a capacity for 40 passengers as well as creating a viable and efficient…
9 hours ago
The Alternative Bank and TK Tech Africa are poised to transform the landscape of financial technology and non-interest banking with their innovative $500 million digital Sukuk initiative.
1 day ago
The Amalgamated Union of App-Based Transporters of Nigeria (AUATON), Lagos chapter, has officially called off the proposed protest against the impasse over the data-sharing agreement between the Lagos State Government
1 day ago
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has described as commendable the clearance of a $7 billion foreign exchange (FX) backlog by the Central Bank of Nigeria (CBN).